Coronavirus

Mortgage rates moved off of their all-time low this week as a result of reports that Pfizer's coronavirus vaccine was potentially 90% effective, according to Freddie Mac.

Brookfield's Capital Automotive is marketing a new series of bonds secured by revenues from property sale-leaseback agreements with large auto dealer groups.

Signs of weakness are showing in commercial real estate where property values have begun falling. The report also said that hedge fund leverage has remained elevated and that life insurers are reaching debt levels not seen since the 2008 financial crisis

Demand trends were mixed in the third quarter, with consumers showing more willingness than businesses to take on new debt, according to the Fed’s most recent survey on bank lending practices.

While the overall rate fell in October, S&P noted a sharp rise in the proportion of loans overdue 60 days as many roll out of COVID-19 forbearance.

With a Democrat set to take the White House in January, the agenda for agencies like the CFPB could undergo a rapid transformation, housing finance reform could be turned on its head and progressive banking ideas that were unthinkable over the past four years could gain traction.

Executives from a half-dozen major financial institutions avoided detailed commercial lending forecasts and gave a mixed outlook on consumer credit at an industry conference. And they called on Washington to pass an aid package targeted at the most troubled business sectors as soon as it can.

The deal, backed by loans and leases on 55 corporate jets, is the first transaction to price since the coronavirus outbreak cratered the global air travel industry.

The forbearance rate improved to the a level not seen since early April, but getting back to pre-COVID levels will require employment gains or additional government stimulus measures, according to the Mortgage Bankers Association.

Payment rates for auto lenders and credit card issuers have remained strong despite a spike in unemployment. Whether these trends continue into 2021 will depend largely on the actions of Congress and the pace of medical advances.

How we resolve millions of delinquent mortgages due to COVID is the only question that matters.

Many eateries that relied on outdoor dining to survive the pandemic could see revenues plummet as the weather turns cold.

The lease/purchase home operator is securitizing a loan with higher debt-service coverage that most prior MBS issues from its trust. It also is providing a geographically diverse mix of homes that make the deal less vulnerable to isolated outbreak hotspots.

Automotive services chain operator Driven Brands is pursuing its next whole-business securitization, despite a recent sales decline among its franchise stores due to slowing economic conditions related to the pandemic.

The subprime lender cited low odds that Washington will deliver further economic relief, and the fact that $1.5 billion of loans whose deferral period expired are now more than 30 days behind.

A booming housing market contrasts with a slow-to-improve job market, making for lopsided improvement in the number of troubled mortgages, according to numbers from the Mortgage Bankers Association.

Lenders have spent months puzzled by the persistently low delinquencies on their credit cards. Now, they’re seizing the moment.

With the COVID-19 pandemic creating unprecedented challenges for small businesses, American Express has increasingly targeted its investments in that niche.

But an expected drop in refinancings as mortgage rates rise should more than cancel that out, resulting in declining overall volume through 2023.

The U.S. economy continued to grow across the country as it recovered from the coronavirus pandemic, but the picture was uneven, according to a new report from the Federal Reserve.